Capital One

[teddy26]

I had a Capitol One credit card (only $400) that is included in my bk......noticed on my credit report that they already put $0 balance and closed. On this site, people have mentioned good things of Capital One's blank check for auto loans. Would it be wishful thinking if I applied for the blank check auto loan?

[FLBK7]

The worst that could happen is that they deny the auto loan, so I'd just go ahead and try.

Capital One is weird though, or perhaps they are getting stricter because of the current general credit crunch. Their Master Card with a $500 limit was the first card I got after my BK7 discharge in 4/2004. It came with a $39 annual fee. They have upped the limit and is now $2,000 with zero balance. I paid the fee in 2005, but in 2006 I called and they waived it. Now the $39 fee is due again. I called them this morning and asked them to waive it and they refused, even though I've made several purchases this year but paid them all in full at month-end. In fact, they were downright nasty about not waiving the fee, so I told them to shove it and close my account. AND confirm it all in writing.

I have a $9,000 WAMU Visa and a $2,500 Capital One Visa with no annual fees, so it won't be a great loss. Once you have carefully cleaned up and rebuilt your credit, no one should be paying these ridiculous fees, in my opinion.

Anyway, good luck with the auto loan. Let us know how it goes!

[teddy26]

What if you are still awaiting to be discharged....How "bad" is it to apply for car loan (as shopping around). Then if denied, apply again after you are discharged. Any advice???

[tradewiz50]

What if you are still awaiting to be discharged....How "bad" is it to apply for car loan (as shopping around). Then if denied, apply again after you are discharged. Any advice???

Now why would you apply for any credit before your discharge?

No one will touch you until after your discharge.

[FLBK7]

What if you are still awaiting to be discharged....How "bad" is it to apply for car loan (as shopping around). Then if denied, apply again after you are discharged. Any advice???

I wouldn't apply for anything before discharge. Your scores will be a mess anyway so you'll have a lot of cleaning up to do. And each time you apply for credit they do a hard pull, which lowers your scores even more.

Stay put and wait!

[BKnTX]

Capital One Auto

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[tinroofrusted]

Just a little warning about Capital One Auto Finance: No debt to them was included in our Chapter 13 BK filed last month, because we had paid them off about a year ago.

Capital One Auto is staffed with some of the most ignorant and nasty people you can imagine. We got behind 30 days, and they immediately started calling demanding 3 payments, about which I was forced to argue with them. As you get down to the last of your note, with a very small balance left, they are itching to repossess your car. They threaten that they have the right to do it one day past your payment date. All of these kinds of threats began in the last six months of the note, with the note having been paid well throughout the contract. Apparently, they and their legal department get the chance to make money by repossession, if your car is worth far more than what is left owing.

If you do it, be sure you have a savings fund set aside to pay off early or easily make several payments if something happens. You never want to miss an on time payment, or you get transferred to their collections department, where the subhumans dwell. They are as bad as any really nasty collections agency you ever encountered. Knowing what I know about them, I thought I would warn you to try other options first.

I have Capital One Auto, and I am more than happy. They worked with me when RoadLoans refused to release the title of my car, and even called to make sure I was ok when I recently go rear-ended. (Probably wanted to make sure I was ok to make my payment, but, whatever.)

Anytime I call in, I get to deal with an English speaking American, and I have had a good repoire with Capital One.

I make bi-weekly car payments, and ALWAYS pay a month in advance!

[NOMOREBADCREDIT]

Now why would you apply for any credit before your discharge?

No one will touch you until after your discharge.

No one will touch my credit and i have been discharged.